MIRA
INFORM REPORT
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Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
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Name : |
FREY & LAU GMBH |
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Registered Office : |
Immenhacken 12 Henstedt-Ulzburg, 24558 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
21.05.1981 |
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Com. Reg. No.: |
3346BB |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of essential oils |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Frey & Lau GmbH
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Business
Description
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Established in 1836 as a steam factory, Frey & Lau GmbH
manufactures essential oils, fragrances and flavours. It develops a range of
rosewood, spearmint, thyme, eucalyptus, cinnamon leaf, lavender, lemon,
lemongrass, mint and wintergreen oils. The company operates production
facilities and development and monitoring laboratories. Its oils are used for
aromatherapy, healing, pharmaceutical, and health and fitness applications.
The company also has a team of perfumers and chemists. It maintains a network
of sales agents and representatives. In addition, the company’s fragrances
are used in detergents, fabric softeners, cosmetics and candles. It develops
a variety of aroma chemicals, such as camphor and ethyl vanillin. The company
additionally offers warehousing and delivery services. |
Industry
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Industry |
Chemical Manufacturing |
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ANZSIC 2006: |
1899 - Other Basic Chemical Product
Manufacturing Not Elsewhere Classified |
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NACE 2002: |
2463 - Manufacture of essential oils |
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NAICS 2002: |
325998 - All Other Miscellaneous Chemical
Product and Preparation Manufacturing |
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UK SIC 2003: |
2463 - Manufacture of essential oils |
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US SIC 1987: |
2899 - Chemicals and Chemical
Preparations, Not Elsewhere Classified |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
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Executives Report
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Annual Profit & Loss
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
93.9 |
91.4 |
76.9 |
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Raw materials and services |
63.8 |
- |
- |
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Net sales |
93.9 |
91.4 |
76.9 |
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Other operating income |
2.5 |
2.2 |
1.3 |
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Raw materials and consumables employed |
63.8 |
- |
- |
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Cost of goods sold |
63.8 |
60.7 |
51.2 |
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Cost of raw materials |
63.8 |
60.7 |
51.2 |
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Taxes and social security costs |
1.2 |
1.5 |
1.4 |
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Total payroll costs |
9.1 |
9.9 |
8.5 |
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Fixed asset depreciation and amortisation |
1.2 |
1.2 |
1.1 |
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Other operating costs |
20.6 |
32.7 |
45.7 |
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Net operating income |
11.9 |
5.4 |
-5.4 |
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Other income |
0.1 |
0.1 |
0.1 |
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Interest payable on loans |
1.0 |
1.7 |
0.7 |
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Other expenses |
0.0 |
- |
- |
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Total expenses |
1.0 |
1.5 |
0.5 |
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Profit before tax |
11.0 |
3.9 |
-6.0 |
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Provisions |
23.3 |
24.1 |
19.4 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
2.4 |
1.0 |
-1.1 |
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Net profit |
8.5 |
2.9 |
- |
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Net loss |
- |
- |
-4.9 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Issued capital |
1.0 |
1.0 |
1.0 |
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Profits for the year |
7.3 |
-1.5 |
-4.4 |
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Profit brought forward from previous year(s) |
-1.5 |
-4.2 |
19.1 |
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Total stockholders equity |
8.3 |
-0.5 |
-3.4 |
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Deferred taxation |
1.8 |
- |
- |
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Other provisions |
18.2 |
19.0 |
16.9 |
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Provision for pensions |
4.1 |
3.9 |
3.8 |
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Provisions and allowances |
24.1 |
22.9 |
20.7 |
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Trade creditors |
3.2 |
1.2 |
1.2 |
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Other loans |
- |
0.0 |
2.6 |
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Taxation and social security |
16.5 |
19.2 |
20.4 |
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Due to group companies |
0.3 |
0.3 |
0.3 |
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Total current liabilities |
20.0 |
20.7 |
24.5 |
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Total liabilities (including net worth) |
52.4 |
43.1 |
41.8 |
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Patents |
0.0 |
0.0 |
0.0 |
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Intangibles |
0.0 |
0.2 |
0.0 |
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Land and buildings |
3.3 |
3.6 |
4.1 |
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Machinery and tools |
1.3 |
1.5 |
1.7 |
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Fixtures and equipment |
3.3 |
3.6 |
4.1 |
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Fixed assets under construction |
2.4 |
0.2 |
0.1 |
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Total tangible fixed assets |
11.0 |
8.7 |
8.3 |
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Long-term investments |
- |
- |
0.1 |
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Other financial assets |
0.4 |
0.0 |
0.0 |
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Shares held in associated companies |
0.1 |
0.1 |
- |
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Total financial assets |
0.5 |
0.1 |
0.1 |
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Total non-current assets |
11.5 |
8.9 |
8.4 |
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Raw materials |
15.0 |
17.8 |
14.9 |
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Prepayments |
- |
0.2 |
0.0 |
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Net stocks and work in progress |
15.0 |
17.9 |
14.9 |
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Trade debtors |
12.8 |
11.2 |
12.2 |
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Other receivables |
0.7 |
1.2 |
2.2 |
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Total receivables |
13.5 |
12.4 |
14.4 |
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Cash and liquid assets |
12.4 |
3.9 |
4.1 |
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Total current assets |
40.9 |
34.2 |
33.4 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
52.4 |
43.1 |
41.8 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Current ratio |
20.42 |
16.52 |
13.66 |
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Acid test ratio |
12.92 |
7.85 |
7.57 |
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Total liabilities to net worth |
0.24% |
-4.34% |
-0.73% |
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Net worth to total assets |
0.02% |
0.00% |
-0.01% |
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Current liabilities to net worth |
0.24% |
-4.34% |
-0.73% |
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Current liabilities to stock |
0.13% |
0.12% |
0.16% |
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Fixed assets to net worth |
0.14% |
-1.88% |
-0.25% |
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Collection period |
482.00 |
467.00 |
544.00 |
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Stock turnover rate |
1.55 |
2.06 |
1.81 |
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Profit margin |
0.01% |
0.00% |
-0.01% |
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Return on assets |
0.02% |
0.01% |
-0.01% |
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Shareholders' return |
0.11% |
-0.57% |
0.15% |
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Sales per employee |
63.67 |
60.70 |
59.18 |
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Profit per employee |
5.79 |
1.90 |
-3.73 |
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Average wage per employee |
6.19 |
6.57 |
6.55 |
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Net worth |
8.3 |
-0.5 |
-3.4 |
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Number of employees |
106 |
103 |
95 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.78 |
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|
1 |
Rs.80.12 |
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Euro |
1 |
Rs.68.82 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.